Today in The Hill, the leaders of President Obama's deficit reduction commission wrote an Op-Edthat provides a window of opportunity for both sides to compromise.
While the President did ignore the commission's recommendations, Bowles and Simpson may prove to be useful yet as they argue for a $2 trillion down payment on the deficit to get agreement to raise the debt ceiling.
"....a two-part approach seems sensible, where policymakers agree to a large down payment now and follow it with more significant and structural reforms in the near future. For this to work, though, the down payment must be large - in the vicinity of $2 trillion - and it must at least begin to address entitlement growth."
The Bowles-Simpson commission had recommended over $4 trillion in deficit reduction, but they feel now that is a bridge too far in the short amount of time necessary to raise the debt ceiling before August 3rd.